A 54-year-old businessman Pankaj Gangwar was arrested by Thane police in connection with Iqbal Kaskar extortion case on Thursday.

Iqbar Kaskar is youngest brother of underworld don Dawood Ibrahim.

Dawood Ibrahim’s close aide Chhota Shakeel was behind the extortion racket and he has also been named as an accused and is wanted in connection with the case, a police official said.

The police official, while speaking on condition of anonymity, said, “Shakeel called builders and businessmen for extortion. He has been named as a wanted accused along with four others in connection with the extortion case.”

Earlier, Thane police team arrested Iqbal Kaskar for running an extortion racket against builders, land owners, businessmen as well as jewellers.